Mactaggart & Mickel strategic land has made its biggest site investment to date with the purchase of a 66-acre site in Crayford, south-east London.
The deal comes just a week after Mactaggart & Mickel Group announced the sale of its Scottish housebuilding business and timber frame factory to Springfield Properties Plc. The group said it wanted to expand its strategic land ambitions alongside its private rented portfolio.
Mactaggart & Mickel strategic land has bought the freehold to the brownfield site with the intention of promoting the land for residential and mixed-use development through the London Borough of Bexley’s Local Plan.
Commenting on the deal, Ken Hopkins, Head of Strategic Land at Mactaggart & Mickel, said: “This multimillion-pound deal follows fast on the heels of a major milestone for the group and highlights Mactaggart & Mickel’s investment in, and commitment to, strategic land.”
Mactaggart & Mickel aims to deliver a new neighbourhood in Crayford of up to 1,000 homes, including affordable housing alongside a range of family-sized and smaller homes. The site also has considerable scope to potentially include community facilities, commercial and employment spaces along with enhanced landscapes and green spaces, leading to biodiversity net gain.
Conor Roberts, Manager at Mactaggart & Mickel’s South East Strategic Land team, comments: “Formerly a privately owned brownfield site, our aim is to open up a large proportion of this land to the public, shaping a proposal that delivers maximum benefit to the community in terms of new homes, along with work spaces and commercial facilities - all helping to create a sense of place.
“Served by a mainline train station and Transport for London bus services, Crayford has excellent links to central London and local areas including Bexleyheath, Dartford and Bluewater Shopping Centre. It’s a popular place to live and new homes, community facilities, commercial and work spaces, along with new public green spaces, are all much-needed.”
Conor adds: “Acquiring another large and strategic site in the capital, demonstrates our team’s growing presence in the South East as well as the scale of Mactaggart & Mickel’s strategic land ambitions.”